Texas Industries, Inc. reported results for the quarter ended Feb. 28, 2013, were a net loss of $5.8 million, compared to a net loss of $24.3 million for the prior year period.
Cement operating profit (loss) for the three-month periods ended Feb. 28, 2013, and Feb. 29, 2012, was $9.8 million and $(2.4) million, respectively.
Total segment sales for the three-month period ended Feb. 28, 2013, were $80.6 million compared to $65.5 million for the prior year period; cement sales increased $15.1 million. The Texas market area accounted for approximately 71 percent of cement sales in the current period compared to 69 percent of cement sales in the prior year period. Average cement prices increased 2 percent in the Texas market from 2012. Average cement prices decreased 3 percent due to a change in product mix in the California market from the prior year period. Shipments increased 27 percent in the Texas market area and 22 percent in the California market area.
The company also reported that the commissioning of the second kiln at its central Texas plant – an additional 1.4 million tons of cement capacity – was on target to be completed this spring.